The loan eligibility requirements for this program are outlined as follows:

Type of Business. Eligible businesses include for-profit businesses (individual proprietorships, partnerships or corporations) that have no more than 100 employees and are involved in the management and use of a normal agricultural operation for the production of a farm commodity.

Maximum Loan Amounts. The maximum loan amount for land, building and machinery is $200,000 or 40% of the total project cost (whichever is less). The maximum loan amount for working capital is $100,000 or 40% of the project cost (whichever is less).

Interest Rate. The interest rate on this loan program will not exceed 4%. If the Governor declares the area where the agricultural producer is located a natural disaster, the interest rate will not be less than 2.0%.

Repayment Schedule. Repayment duration for real estate is 15 years, machinery and equipment is 7 years and working capital is 3 years.

Program Contacts:

John Wozniak
jwozniak@nepa-alliance.org

David Nat
dnat@nepa-alliance.org